Peak Sports says economic climate in China is becoming challenging
05/07/2012
The company said it was still in the process of finalising its results for the first half of the year, but said a challenging economic climate in China was affecting sales and profit margins.
It increased its turnover in 2011 by 9.4% to reach more than $730 million, registering profits of $120 million. It said then that the growth had come from increased demand for its products and the expansion of its retail network in China. By December 31, Peak Sports had 7,806 retail outlets across China, an increase of 582 on the figure from a year earlier.
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